liberalized trade

noun

UK /ˈlɪb.rəl.aɪzd treɪd/

US /ˈlɪb.rəl.aɪzd treɪd/

Trade that is made easier because countries lower their rules and taxes on buying and selling with each other.

The new agreement led to liberalized trade between the two countries, making it cheaper to buy goods from abroad.

SYNONYMS

free trade open trade trade liberalization unrestricted trade deregulated trade

RELATED WORDS

tariff import export globalization trade agreement

OTHER MEANINGS

2. The process of removing barriers such as tariffs and quotas so goods can move more freely between countries.

Economists studied how liberalized trade affected local farmers.

3. A policy of reducing government control over international buying and selling.

The government's push for liberalized trade worried some local manufacturers.

4. A situation where markets are opened to foreign competition with fewer restrictions.

Consumers benefited from liberalized trade through lower prices on imported electronics.